China ‘Winning Lion’s Share’ of Construction Projects in Africa – Study
Back in 1990, US and European firms won 85% of infrastructure contracts on the African continent but now the tables have well and truly turned.
Chinese companies accounted for 31% of African infrastructure projects valued at $50mn or more in 2022, with Western firms winning dramatically less – just 12%, a new report by the Hinrich Foundation, an Asia-based philanthropic organization found.
Beijing’s vast Belt and Road Initiative launched in 2013 has fuelled its emergence as the main player in Africa - 🇨🇳companies funded mega projects worth billions of dollars such as railways in Kenya and Ethiopia and ports in Djibouti and Nigeria.
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Back in 1990, US and European firms won 85% of infrastructure contracts on the African continent but now the tables have well and truly turned.
Chinese companies accounted for 31% of African infrastructure projects valued at $50mn or more in 2022, with Western firms winning dramatically less – just 12%, a new report by the Hinrich Foundation, an Asia-based philanthropic organization found.
Beijing’s vast Belt and Road Initiative launched in 2013 has fuelled its emergence as the main player in Africa - 🇨🇳companies funded mega projects worth billions of dollars such as railways in Kenya and Ethiopia and ports in Djibouti and Nigeria.
@RiseGS
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Multiple evidence suggests that skilled snipers shot hundreds of protesters and police alike, inflaming the coup to its final resolution as intended.
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Around 100 firefighters are currently battling the blaze.
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The two people on board ejected before the MiG plummeted into the ground during the ‘Thunder over Michigan’ air show Sunday.
The jet crashed into unoccupied vehicles in the parking lot of the Waverly on the Lake Apartments in Van Buren Township.
There were no injuries, the airport authority said.
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The landslide occurred in Hpakant, a remote mountainous town in Kachin state about 600 miles north of Myanmar’s biggest city, Yangon.
The area is the epicenter of the world’s biggest and most lucrative jade mines.
Earth and debris from several mines near the town slid down a cliff into a lake below sweeping more than 30 miners into the water, a rescue official said Monday.
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Ready for War? 🇰🇵’s Kim Jong Un Demands Ramping Up of Missiles Ahead of 🇰🇷,🇺🇸Drills
The North Korean supreme leader gave the order as he visited key munitions factories that produce tactical missiles, launch platforms, armoured vehicles and artillery shells.
Kim called for the increase to help secure “overwhelming military power,” state media KCNA said Monday – the rallying call comes as South Korea and the US gear up for annual military drills which they have dubbed as the “largest scale ever.”
Pyongyang has denounced the allies' military exercises as a rehearsal for nuclear war.
@RiseGS
The North Korean supreme leader gave the order as he visited key munitions factories that produce tactical missiles, launch platforms, armoured vehicles and artillery shells.
Kim called for the increase to help secure “overwhelming military power,” state media KCNA said Monday – the rallying call comes as South Korea and the US gear up for annual military drills which they have dubbed as the “largest scale ever.”
Pyongyang has denounced the allies' military exercises as a rehearsal for nuclear war.
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Russia Takes Advantage of Billion-Dollar Oil Cap Loophole 💲
Inflated shipping costs enables Russian companies to earn far more from crude oil sales to India than previously recognised, the FT reports – charges are thought to have raised more than $1bn in a single quarter.
The price cap imposed by the G7 - which was intended to keep 🇷🇺 oil flowing while squeezing revenues – does not apply any limit on freight costs.
🇷🇺’s Baltic ports sell oil for $50 per barrel – in line with the cap - while Indian customs data shows a purchase price of $68 per barrel…😂
🇮🇳 now accounts for around 25% of Russia’s crude and refined oil exports.
@RiseGS
Inflated shipping costs enables Russian companies to earn far more from crude oil sales to India than previously recognised, the FT reports – charges are thought to have raised more than $1bn in a single quarter.
The price cap imposed by the G7 - which was intended to keep 🇷🇺 oil flowing while squeezing revenues – does not apply any limit on freight costs.
🇷🇺’s Baltic ports sell oil for $50 per barrel – in line with the cap - while Indian customs data shows a purchase price of $68 per barrel…
🇮🇳 now accounts for around 25% of Russia’s crude and refined oil exports.
@RiseGS
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Heavy rainfall continues to pound the neighboring states, with landslides blocking key roads, washing away bridges and causing water levels of rivers to swell.
Devastating footage shows vehicles being washed away and houses destroyed by the monsoon rains.
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Rise of the Global South
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“We all should work to restore constitutional order in Niger but in no way through military intervention or an armed conflict,” 🇨🇻President José Maria Neves said.
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